Will JPMorgan Set the Tone for Bank Earnings?

JPMorgan Chase & Co. (NYSE: JPM) is scheduled to release its fourth-quarter financial results before the markets open on Tuesday. This is one of the major banks reporting this week. So far we’ve already seen Citigroup post a win. Thomson Reuters has consensus estimates calling for $2.25 in earnings per share (EPS) and $27.28 billion in revenue from JPMorgan. The […]

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Berkshire Hathaway Takes Stake in India's Paytm

Berkshire Hathaway Inc has picked up a 25 billion rupees ($356 million) stake in the parent of digital payments firm Paytm, a source said, its first investment in an Indian startup as it forays into the financial payments sector. The conglomerate run by billionaire Warren Buffett confirmed in an email that Berkshire had invested in One97 Communications Ltd. Buffett was […]

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Major Banks Scare Off Short Sellers

The financial sector was a major part of the Great Recession, and it has been a major part of the recovery and raging bull market since then. Generally speaking, the major financial institutions in the United States are a good barometer of the current state of U.S. markets. So when short sellers make a play against these major banks, they […]

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Goldman Sachs Hires Top JP Morgan Dealmaker Simon

Goldman Sachs Group Inc said in an internal memo on Friday it had hired a top JPMorgan Chase & Co dealmaker, Kurt Simon, as a partner and vice chairman of its investment banking division. A Goldman Sachs representative confirmed the contents of the memo. A JP Morgan representative confirmed the departure. A move to a rival firm for a banker […]

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Facebook Asks Banks to Share Customer Information

According to The Wall Street Journal, Facebook Inc. (FB) is seeking to acquire financial data on its users. The social media company has reportedly asked U.S. banks to share financial information about their customers, including checking-account balances and card transactions. The information would be used to offer new services to Facebook account holders. The petition, which went out to many […]

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6 Most Important Things in Business Today

Profits at large companies continue to rise. According to The Wall Street Journal: America’s biggest companies are reporting some of the strongest earnings growth since the recession, boosted by lowered tax rates and a robust U.S. economy that is fueling demand across industries. Profits at S&P 500 companies jumped an estimated 23.5% in the three months through June, according to […]

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Short Sellers Grow Selective on Major Banks

The financial sector was a major part of the Great Recession, and it has been a major part of the recovery and raging bull market since then. Generally speaking, the major financial institutions in the United States are a good barometer of the current state of U.S. markets. So when short sellers make a play against these major banks, they […]

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3M Traded Down, JPMorgan Up to Keep the Dow Flat Monday

July 23, 2018: Markets opened lower Monday and try as they might, the blue chips could never really get a bid. The President’s saber-rattling tweet this morning got markets off to poor start, but earnings reports may have helped pull the Nasdaq Composite and the S&P 500 out of the doldrums. The day’s best performing sector has been financial services […]

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